Journalize the Following Sales Transactions for Power Equipment Using the Periodic

question 76

Essay

Journalize the following sales transactions for Power Equipment using the periodic inventory system.Explanations are not required.
July 1: Sold $4,200 of equipment on account,credit terms are n/30,FOB destination.
July 5: Paid $90 on freight out.
July 11: Received payment from the customer for the full amount due on the July 1 sale.

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Definitions:

Autonomic Nervous System

is a part of the nervous system that controls involuntary bodily functions such as heartbeat, digestion, and breathing.

Sensory Nervous System

The part of the nervous system that processes input from sensory organs, enabling the perception of sight, sound, touch, taste, and smell.

Somatic Nervous System

The division of the peripheral nervous system that controls the body’s skeletal muscles. Also called the skeletal nervous system.

Parasympathetic Nervous

Part of the autonomic nervous system responsible for conserving energy and promoting restful states by slowing the heart rate and increasing intestinal and gland activity.